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January 25, 2020

FBR launches countrywide campaign against tax evaders

National

January 25, 2020

ISLAMABAD: The FBR has launched countrywide campaign against tax evaders and also filed three complaints before special judge on charges of money laundering.

In a bid to comply with FATF requirements, the FBR has launched campaign against money laundering.

According to details, under the directions of the chairman FBR, the Directorate General of Intelligence & Investigation-IR has launched a fresh campaign, under the leadership of newly appointed Director General Dr. Bashir Ullah Khan across the country.

As a result, regional Directorates at Faisalabad, Multan, Peshawar and Islamabad conducted raids against fraudsters of different sectors. In addition to above, the Hyderabad Directorate has filed three complaints before the Court of Special Judge under Anti Money Laundering Act, 2010.

These complaints are filed against Hikmat, Nafay and Hayat after through investigations. Receipts in bank accounts of above-named persons are much high and unexplained as compared to their tax declarations. During the period 2014 to 2018 Hikmat declared receipts of Rs1.577 million and paid nil income tax, however, bank credits are amounting to Rs105,02.085 millions. Furthermore, during the period 2014 to 2018 Nafay declared receipts of Rs3.391 million and paid nil income tax, however, bank credits are amounting to Rs6618.620 millions. Moreover, during the period 2014 to 2018 Hayat declared receipts of Rs1.452 million and paid Rs51,000/- income tax, however, bank credits are amounting to Rs1,966.614 millions.

The Faisalabad Directorate conducted raids at two unregistered persons of engineering sector that were engaged in taxable supplies without paying any sales tax in Sargodha. The names of units are Ashraf Engineering Works and Haider & Brothers Engineering Works. Scrutiny of impounded records is underway to ascertain the quantum of tax fraud.

Multan Directorates has conducted raids at the premises of Malik Plastic Factory who was engaged in manufacturing and supplies of shopping bags & other plastic products without getting sales tax registration. The said business is paying electricity bills of 11.728 million in one year and making supplies of approximately 60 million without paying any sales tax.

Peshawar Directorate impounded huge number of illegal filter rods in Mardan during ongoing campaign against counterfeit cigarettes. Evaded amount of Federal Excise Duty is expected to run into millions in the instant case.

Islamabad Directorate has conducted raid on leading uniform brand i.e. M/s Saqib who, too, was engaged in taxable supplies without getting sales tax registration and paying any tax to the national exchequer. The proceedings are underway in all of above cases. The director general applauded the efforts of teams and advised for early completion of proceedings.